KRG Pays Taq Taq Field Partners

Genel Energy plc announced Tuesday that the Taq Taq field partners have received a gross payment of $30 million from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Turkey pipeline.

This represents the fourth export payment by the KRG since payments recommenced in September 2015. Genel’s share of the gross Taq Taq payment is $16.5 million. In December last year, the KRG paid Genel and DNO $30 million as a partial payment towards oil exported from the Tawke field. As of March 5, 2015, Genel Energy was owed $233 million for oil sold to the Kurdistan Regional Government.

Late last year, DNO Executive Chairman Bijan Mossavar-Rahmani revealed that DNO and Genel’s combined capital expenditure in Kurdistan has fallen considerably as a result of the Kurdistan Regional Government’s lack of payments to producing international oil companies. 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  TRACE Secures INPEX Deal, Creates Jobs (Jun 23)
 -  What Are the Qualifications to Become ... (Jun 23)
 -  SolstadFarstad Emerges After Company M... (Jun 22)
 -  Gas Leak at Gjoa (Jun 22)
 -  Total Energy Services Completes Savann... (Jun 21)


Most Popular Articles

From the Career Center
Jobs that may interest you
US Marine Crew- Chief Mate for US Flag Coastal Tanker
Expertise: Ships Mate / Officer
Location: Houston, TX
 
US Marine Crew- 1st Assistant Engineer for US Flag Coastal Tanker
Expertise: Ships Engineer
Location: Houston, TX
 
Project Manager
Expertise: Contracts Administration|Planner / Scheduler|Project Management
Location: Henderson, CO
 
search for more jobs

Brent Crude Oil : $45.54/BBL 0.70%
Light Crude Oil : $43.01/BBL 0.63%
Natural Gas : $2.929/MMBtu 1.34%
Updated in last 24 hours